Industries and markets

Brazil: New Regulation for Indirect Imports

A new regulation expands the concept of indirect imports while increasing the risk for importers. On the last day of business in 2018, the Internal Revenue Service (RFB) of Brazil published the Normative Instruction RFB

Brazil: New Common Nomenclature for Mercosur

Since January 1st, 2019, a new common nomenclature for Mercosur (NCM) has been in place which includes new units of measure for foreign trade on the NF-e portal (electronic nota fiscal, e-invoicing).   NCM Table

S4/HANA in Brazil

The Hurdles of S4/HANA in Brazil SAP S/4HANA is aimed at easing work processes and reduce business costs: improved data models, an intuitive user interface as well as innovative functions motivate companies to implement the

Peru: Changes for Comprobantes de Pago

On December 22nd, 2018, the Peruvian tax authority SUNAT published Resolution No. 295-2018 which outlines changes to the current Comprobantes de Pago system.   Exemption from Comprobantes de Pago The resolution includes certain exceptions for

Mexico: VAT Reduction of 50% in the Northern Border Region

The Mexican Government has created a fiscal stimulus plan for the northern border region that is based on a 50% VAT reduction for certain transakctions.   What it is The 50% VAT reduction has been

Bolsonaro and the Israeli-Iranian rivalry in South America

“Far-right politician Jair Bolsonaro, who has repeatedly expressed his sympathies for Israel, was recently inaugurated as the president of Brazil – the region’s most powerful and populous nation. His presidency will certainly pursue a different approach

Argentina: Implementing Decree for Transfer Pricing Rules

At the end of 2018, a decree concerning transfer pricing rules has been published in Argentina which outlines the corresponding law 27.430 / 2017. Decree Measures The specific measures of the decree are: adoption of

Brazil: No ICMS Tax on Back-to-Back Trades

Back-to-Back trades describe the buying and selling of goods without them touching Brazilian soil. Specifically, Brazilian companies buy goods from a foreign vendor and let them be shipped to a buyer abroad by a third

Mexicans scramble for gasoline as stations run dry

“State oil company Petroleos Mexicanos said the use of more secure transportation methods has resulted in delays for fuel delivery to gas stations in the states of Guanajuato, Hidalgo, Jalisco, Michoacan, Mexico and Queretaro. It

Brazil: eSocial – Opportunities and Hurdles

eSocial is a platform that companies have to use to submit employee information to the fiscal authorities. By using a common platform the submission requirement should be unified and simplified. Companies should profit from the